97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
HB1119

 

Introduced 02/07/11, by Rep. Sidney H. Mathias

 

SYNOPSIS AS INTRODUCED:
 
320 ILCS 25/3.07  from Ch. 67 1/2, par. 403.07

    Amends the Senior Citizens and Disabled Persons Property Tax Relief and Pharmaceutical Assistance Act. Provides that, for grant years 2012 and thereafter, "income" means federal taxable income (now, "income" means federal adjusted gross income modified by adding thereto income received from any of a list of sources).


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FISCAL NOTE ACT MAY APPLY
HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

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1    AN ACT concerning senior citizens and disabled persons.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Senior Citizens and Disabled Persons
5Property Tax Relief and Pharmaceutical Assistance Act is
6amended by changing Section 3.07 as follows:
 
7    (320 ILCS 25/3.07)  (from Ch. 67 1/2, par. 403.07)
8    Sec. 3.07. Income. For grant years 2011 and before,
9"income" "Income" means adjusted gross income, properly
10reportable for federal income tax purposes under the provisions
11of the Internal Revenue Code, modified by adding thereto the
12sum of the following amounts to the extent deducted or excluded
13from gross income in the computation of adjusted gross income:
14        (A) An amount equal to all amounts paid or accrued as
15    interest or dividends during the taxable year;
16        (B) An amount equal to the amount of tax imposed by the
17    Illinois Income Tax Act paid for the taxable year;
18        (C) An amount equal to all amounts received during the
19    taxable year as an annuity under an annuity, endowment or
20    life insurance contract or under any other contract or
21    agreement;
22        (D) An amount equal to the amount of benefits paid
23    under the Federal Social Security Act during the taxable

 

 

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1    year;
2        (E) An amount equal to the amount of benefits paid
3    under the Railroad Retirement Act during the taxable year;
4        (F) An amount equal to the total amount of cash public
5    assistance payments received from any governmental agency
6    during the taxable year other than benefits received
7    pursuant to this Act;
8        (G) An amount equal to any net operating loss carryover
9    deduction or capital loss carryover deduction during the
10    taxable year; and
11        (H) An amount equal to any benefits received under the
12    Workers' Compensation Act or the Workers' Occupational
13    Diseases Act during the taxable year.
14    "Income" does not include any distributions or items of
15income described under subparagraph (X) of paragraph (2) of
16subsection (a) of Section 203 of the Illinois Income Tax Act or
17any payments under Section 2201 or Section 2202 of the American
18Recovery and Reinvestment Act of 2009.
19    For grant years 2012 and thereafter, "income" means taxable
20income, properly reportable for federal income tax purposes
21under the provisions of the Internal Revenue Code.
22(Source: P.A. 96-804, eff. 1-1-10.)